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Twelve Capital hires new cat bond portfolio manager


Zurich and London based insurance and reinsurance linked investment manager Twelve Capital has hired a new member to its portfolio management team to take responsibility for the firm’s catastrophe bond investment strategies.

Florian Steiger is joining Twelve Capital in its Zurich office and will be a Director within the Portfolio Management team of the ILS manager, with his main focus being on managing Twelve’s catastrophe bond strategy portfolios.

Steiger was previously with Cape Capital and based in Zurich, where he established and managed the Cape Fixed Income Fund.

Before that Steiger worked in London and Zurich in a variety of roles with ZAIS Group and Goldman Sachs.

Throughout his career, Steiger’s focus has been on structured and illiquid credit, including instruments such as CLOs and credit derivatives, as well as on the subordinated bonds of European financial companies.

John Butler, Managing Partner & Head of Investment Management at Twelve Capital, commented on the hire; “We are very happy to have Florian joining the firm. Florian’s deep experience in portfolio management will further enhance our ability to generate solid returns and serve clients across the firm’s portfolios. We are delighted to welcome him to the firm.”

Twelve Capital had been without a dedicated cat bond portfolio manager after Roman Muraviev left the firm earlier this year to form IBI ILS Partners in Tel-Aviv, Israel.

Steiger will bring additional experience to Twelve Capital from his years managing fixed-income portfolios, which given the ILS managers broad focus across ILS, private and public insurance debt, and insurance private equities, should prove a valuable addition.

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